Aside from the soundbites from the CAGNY investment conference in Florida this week, the last five days have been rounded out with results from Wal-Mart Stores, Kerry Group and Safeway Inc. Here’s the best of what was said; click on the links to find out more.
“When inflation gets to 5% you can have a demand-depressing result. You don’t have a problem at 3%, it’s between 3-5% that consumers start to have a problem” – Safeway CEO Steve Burd plays down the impact of price hikes on customer behaviour.
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“The results season shows that food companies with strong brands will survive quite easily and will be able to increase prices” – Jon Cox, head of Swiss research at Kepler Capital Markets comments on the results of food manufacturers Nestle, Danone and Unilever.
“In light of all the political turmoil, we still believe that emerging markets will drive growth in the future. We approach it with a degree of caution – it may be volatile, it may not be linear – but in emerging markets, we will continue to invest” – Kerry Group CEO Stan McCarthy on the company’s plans to develop its emerging market presence.
“Should the trends experienced in the Christmas period and the subsequent eight weeks continue, we expect a difficult second-half”- Massmart describes its outlook for the remainder of the year.
“We will change our remodelling programme to right-size merchandise categories and eliminate remodel disruptions. We will continue to drive efficiencies through our remodelling programme to reduce capital costs and expenses” – Wal-Mart US CEO Bill Simon talks about how he is working to turnaround the company’s US operations after a “disappointing” fourth quarter.
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By GlobalData“As far as our relationships go with the other partners in the food supply chain, we are all in the same boat. So we’ve all got to row in the same direction, otherwise we’re sunk” – Carrefour general secretary Pierre-Alexandre Teulié describes its negotiations with suppliers.
“The specific type of laboratory-produced DHA oil that Horizon adds to its milk has never been reviewed by the National Organic Standards Board or approved by the USDA” – Charlotte Vallaeys, a farm and food policy analyst with the Cornucopia Institute claims the new Horizon fat-free milk contains an additive that has not been approved for use in organic products.
